Reference no: EM131813360

Problem - The following selected account balances were taken from ABC Company's accounting records during 2018:

                                                January 1, 2018       December 31, 2018

Inventory                                      41,000                57,000

Accounts payable                           46,000                69,000

Long-term notes payable                 130,000               165,000

Income tax payable                        11,000                 7,000

Investments                                   89,000                68,000

Accounts receivable                         83,000                77,000

Land                                               60,000                89,000

Common stock                                100,000               150,000

Retained earnings                            29,000                41,000

The following information was taken from ABC Company's 2018 income statement:

Sales revenue                         $415,000

Cost of goods sold                   373,000

Gain on sale of investments       11,000

Income tax expense                 16,000

Net income                              $ 37,000

Calculate the net cash flow from investing activities for 2018. If your answer is negative, place a minus sign in front of your answer with no spaces in between (e.g., -1234). Do not use decimals in your answer.